Enhancing its leading role in supporting SMEs and the community, Bank Muscat, the flagship financial services provider in the Sultanate, continues its implementation of the Imprints CSR programmes in various areas. The four pillars of the Imprints initiative are focused on programmes to inculcate financial literacy, promote sustainable tourism, sustain green environment and encourage enriched lifestyle. The bank in cooperation with Modern Gulf Institute organised training sessions for a number of the bank officials on how to conduct coaching programmes enabling them to introduce modern methods in staff training and better contribute to enhance the role of small and medium enterprises SMEs.
The training also tends to enable the bank officials to utilise the coaching experience to lead a training programme for SMEs in finance management. Bank Muscat will set up a Small Business Coaching Centre at the bank’s headquarters, where a number of volunteers from the bank’s senior and middle management will guide small business owners in different financial matters. Entrepreneurs can attend training courses and directly discuss their matters with the bank officials.
This programme utilises the knowledge of the bank’s financial experienced officials to benefit entrepreneurs and development the SME sector in the sultanate. Bank Muscat is keen to involve its officials in a number of supervisory programmes and provide expertise to entrepreneurs in various fields related to business management. Last April, Bank Muscat signed an agreement relating to Irshad financial literacy programme with Modern Gulf Institute to provide training on how to better serve the community and contribute in the support of small business owners.
Bank Muscat is a pioneer to specialize in small and medium-sized enterprises in the Sultanate as the bank launched a series of initiatives as part of a comprehensive plan to support entrepreneurs in Oman. The bank regularly conducts workshops and seminars to equip SMEs to identify business opportunities and tackle challenges. Serving as building blocks for existing and prospective entrepreneurs, these initiatives assume importance in the backdrop of the priority accorded by the government to develop the SME sector in Oman. Aimed at strengthening the SME sector, the bank offers a comprehensive suite of tailor-made finance solutions. A unique SME financing launched by the bank has helped entrepreneurs overcome a major challenge. As part of its commitment to sustainable social development, complementing government efforts in strengthening the role of SMEs in the economic development of Oman.
Bank Muscat has also launched a series of initiatives to strengthen the SME sector in Oman. The specially designed najahi products mainly include credit facilities without collaterals to develop and grow micro and small businesses. With najahi, Bank Muscat fulfils the primary need of finance for the micro and small business segment. The najahi suite of products include the value added najahi Current Account, najahi Flexi Loan to support working capital, business expansion and other business needs; najahi Business Credit Card; najahi Contractors Loan to help complete contracted jobs; and najahi Contractors Bill Discounting to get immediate funds after completing contracted jobs.
Oman Observer is now on the WhatsApp channel. Click here
